Namecoin is one of the earliest variations of Bitcoin. Though it is not as successful as Bitcoin, it is one of the most innovative altcoins until today. Namecoin was also the first to implement merged mining and a decentralized DNS.
Namecoin can be used for a variety of uses like protecting free-speech rights online by making the web more resistant to censorship and accessing websites using the .bit domain (with TLS/SSL). However, before you can do this, you’ll need to get some. It is easy enough to buy some on an exchange, but it can be more satisfying to mine them.
How to mine Namecoin
Namecoin mining is possible either via CPU or GPU. If you want to start mining Namecoin, here are some steps to get started. The first step is to choose your preferred mining software. For CPU mining, it is recommended to get Pooler’s CPUminer 2.3.2, while the CGMiner 3.7.2software is advised for GPU mining.
Now you need to test your hardware. CPU and GPU mining will need accurate instructions, so you’ll need to read a bit of the instructions for the software above. However, it is also possible to get a GUI miner to make things a lot easier. However, it won’t have that many options.
Once you know how to use your mining software, it’s time to test your hardware. If your hardware can handle it, it will begin mining Namecoins. CPU mining is pretty slow, though. Mining Namecoins with your GPU is far more efficient than doing it with your CPU. However, it will still be pretty slow since Bitcoins contribute most of the mining power to the Bitcoin network. Since Namecoins and Bitcoins are usually mined together, you might not get many Namecoins with your GPU.
Now that you have tested your hardware and know you can mine Namecoins correctly, one of the better choices to do is to then join a mining pool. Mining pools are groups of miners that join their processing power together to get better and faster results. This is a good way to go if you do not have a strong hardware. You can also join cloud mining sites and invest in Namecoin mining, but it is not that popular.
By the way, some antivirus programs consider all cryptocoin miners malware. Ensure that your antivirus software is turned off before you mine so you won’t suddenly have your mining software deleted or blocked. With this in mind, you should be ready to start Namecoin mining to add to your stash of cryptocoins.